U.S. Department of Transportation proposed new foreign ownership rules

The U.S. Department of Transportation proposed new rules to help US airlines to raise foreign money. U.S. airlines would have more opportunities to obtain financing from investors under a new rule announced today by U.S. Secretary of Transportation Norman Y. Mineta. The proposed rule would allow international investors more say in some aspects of airline operations, but retain current domestic ownership and labor protections in U.S. airlines, Mineta said. The notice of proposed rulemaking would allow global investors more input in marketing, routing and fleet structures. However, the proposal would ensure current protections guaranteeing that U.S. citizens own at least 75 percent of a domestic airline